Wednesday, June 30, 2010

Nouriel Roubini : Renminbi vs US dollar

The decision of China to move away from its currency peg could cause the renminbi to weaken against the dollar instead of strengthening as Washington hopes,economist Nouriel Roubini, told Reuters last week .
"This is the first significant signal in years of a change in Chinese currency policy," Roubini said."Since they have not changed the previous range for the band -- plus or minus 0.5 percent -- most likely on Monday China will allow the Yuan vs US dollar to move," Roubini added

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